The duration of a bankruptcy case depends on the type of bankruptcy you file for. For a Chapter 7 bankruptcy, the process typically takes between 3 to 6 months from the date of filing to the discharge of debts. After the discharge, the case is generally closed, although some administrative tasks may still need to …
The decision to file for bankruptcy is a significant step towards finding relief from overwhelming debts. However, many individuals hesitate due to concerns about its impact on their credit scores. Understanding the relationship between bankruptcy and credit scores is essential to make informed decisions about your financial future. As a seasoned Miami bankruptcy lawyer, I …
Bankruptcy is a legal process designed to offer individuals and businesses a fresh financial start when they are overwhelmed by debt. However, misconceptions and myths about bankruptcy can deter people from seeking the debt relief they desperately need. As a reputable Miami bankruptcy attorney, it is essential to shed light on common bankruptcy myths and …
Debunking Bankruptcy Myths- Insights from a Miami Bankruptcy Attorney Read More »
According to Miami bankruptcy attorney, James Schwitalla, for most people, filing for bankruptcy is the first step for them to improve their credit score. The reason is that most folks considering bankruptcy have already fallen behind on their debt payments and their credit scores have already suffered. Accordingly, the filing of the bankruptcy does not …
Filing for personal bankruptcy can have an impact on your small business, especially if you operate it as a sole proprietorship. Here are some ways in which your personal bankruptcy can affect your small business: Chapter 7 vs Chapter 13 Bankrupcty The type of personal bankruptcy you file, i.e., Chapter 7 bankruptcy or Chapter 13 …
How does my personal bankruptcy affect my small business? Read More »
Filing for bankruptcy can provide you some protections against foreclosure, but it does not necessarily prevent a bank from foreclosing on your property. To understand why, you first need to understand that a mortgage lender has a claim against you (called an in personam claim) and a claim against your property (called an in rem …
How can my bank foreclose on my property if I already filed for bankruptcy? Read More »
Although you do not need an attorney to file for bankruptcy in Miami, Florida, it is highly recommended that you seek the advice of an experienced Miami Bankruptcy attorney. What is a bankruptcy attorney? A bankruptcy attorney is a lawyer who specializes in federal bankruptcy law and the underlying state law, and provides legal services …
The bankruptcy case for small businesses is referred to as a “Subchapter V” (pronounced “Subchapter five”) bankruptcy or Chapter 11. It was established recently to provided small business corporations and LLCs access to bankruptcy reorganization. Even the “simplest” traditional Chapter 11 bankruptcy typically requires an investment of attorney fees and costs of no less than $40,000, …
If you can’t pay your debts, filing for bankruptcy might be the right move to make. In 2022, there were more than 4,400 bankruptcies filed in the Miami United States Bankruptcy Court across all chapters, including Chapter 7, Chapter 11, and Chapter 13 filings. When your debts, whether they be mortgages, bank loans, credit cards, …
According to the Administrative Office of the U.S. Courts, nearly 612,561 business entities and individuals have filed for bankruptcy in the last couple of years. Bankruptcy is rightly seen as usually being the last appropriate option for people and their businesses to take to manage their debts. Bankruptcy is a federal forum that allows debtors …
Miami Bankruptcy serves clients throughout the Miami and Miami-Dade County area, South Florida and the Florida Keys, including Kendall, Westchester, Sweetwater, Pinecrest, Palmetto Bay, Cutler Bay, Homestead, Florida City, Cutler Ridge, Richmond Heights, Key Largo, Marathon, Islamorada, Big Pine Key, Key West, Tavernier and Plantation.
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